Prescription Drugs Market Research Reports Analysis and Trends
A licensed medicine that is regulated by legislation to require a medical prescription before the medicines can be obtained is called as a prescription drug or prescription medication or prescription medicine. Prescription drugs are dispensed along with a monograph that gives detailed information about the drug. They are separate from over-the-counter drugs, which do not require a prescription.
Prescription medicines are an important part of treating and preventing illness. It is available to you only if a doctor writes a prescription requesting that this medicine be supplied to you. You then take the prescription to a pharmacist or chemist along with the prescription to collect the medicine.
Antibiotics are one of the most frequently prescribed medications in modern times and also play a major role in the pharmaceutical industry. The antibiotics market is witnessing an increase in the number of new product innovations.
Examples of prescription drugs include Rx tab. Paracetamol 500mg for viral infection, Rx insulin for diabetes, Lisinopril a blood pressure drug, Amoxicillin an antibiotic etc.
The prescription drug industry has been affected by the economic crisis. Expiring patents and the subsequent availability of cheaper generic alternatives add further pressure.
Prescription Drugs Industry Current Trends
According to the reports, the worldwide market for prescription drugs is forecast to reach almost $900 billion by 2015.
As per the reports given by GIA, the global antibiotics market is forecast to reach US$40.3 billion by 2015.
Major Prescription Drugs Industry Players
Some of the major players of pharmaceutical industry are GlaxoSmithKline, Pfizer, Abbott Laboratories, and Eli Lilly etc.